With no deal current to build Sydney's tallest residential tower, the Chinese developer Greenland has raised the prospect of undertaking their own construction on the Greenland Centre.
The construction giant Brookfield Multiplex severed its contractual agreement due to commercial differences last month.
The Australian Financial Review suggested last month Brookfield Multiplex thought Greenland had been difficult to deal with and there had already been significant delays in what was already an extremely tight program.
The arrival of the Chinese-based Greenland to Australian shores was heralded by Property Observer as an auspicious occasion with their 2013 plans for building Sydney's tallest residential highrise on the former Water Board site in the CBD, but little has gone right for the group ever since.
The overly ambitious Chinese developer were lured to overpay for the CBD site, after abandoning, at the eleventh hour, well advanced plans for a suburban project that would have not given them their desired world beating, global expansion status.
Today's article in The Australian said the Chinese developer was still committed to the $700 million, 235 metre tower tower, which has seen almost all its apartments sold off the plan through CBRE Residential with a completion date at the end of 2017. It now has a 2019 anticipated completion.
“We will figure out what to do in the coming weeks,” was the best the Greenland spokesperson could advise The Australian last month.
Today the Greenland assistance managing director Kang Xue advised The Australian it was "actively pursuing the most productive way to complete the tower."
Only last week Greenland told the Urban Developer website that new builders had “come knocking.”
